Service & Supply | Oilfield Services | Capital Markets | Capital Expenditure
Essential Energy Services 2014 CapEx Fueled by Coil Tubing Demand
Print
|
Essential Energy Services Ltd. announced the 2014 capital budget of $50 million comprised of $33 million of growth capital and $17 million of maintenance capital.
Garnet Amundson, President and Chief Executive Officer, said "Given the anticipated demand from our customers for long-reach coil tubing, and the challenges the service industry has faced delivering this equipment to the market, Essential has entered into long-term build programs with two leading fabricators to deliver deep coil tubing rigs in 2014, 2015 and 2016,"
2014 Capital BudgetEssential's 2014 growth capital spending is anticipated to consist primarily of the following:
Three Generation IV masted deep coil tubing rigs, built by Option Industries Inc.; One Generation III masted deep coil tubing rig, built by National…- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations
Canada News
Western Canada Upstream M&A: Q1 2026 Transaction Report
Western Canadian M&A activity in Q1 2026 was characterized by a 87% decrease in total deal value compared to Q1 2025, totaling $0.8 billion C$. However, transaction volume…
Canadan E&P 2026 Program Calls for 448 Net Wells, Up 24% vs. 2025 Plan
Canadian Natural Resources outlined a 2026 operating capital budget of approximately $6.3 billion (total capital budget $6,425 million, including $125 million for carbon capture) targeting 1,590–1,650 MBOE/d of…
EIA’s “Glut” Calls: The 2025 Surplus Claim — and How 2021–2024 Forecasts Actually Held Up
The “~2.2 MMb/d glut in 2025” framing traces to the EIA’s Short-Term Energy Outlook (STEO), December 2025. EIA doesn’t usually write “glut” in the tables—what they publish is…
Whitecap Details 2026 Duvernay & Montney Program
Whitecap Resources reported strong third quarter 2025 operating and financial results, marking its first full quarter following the strategic combination with Veren that closed on May 12, 2025.…
ARC Resources: Lower 2026 Capex, Higher Volumes
ARC Resources used its third quarter update to reinforce a familiar message to Canadian E&P executives: disciplined capital, structurally better market access, and a growing shareholder return program…